Consumers in the U.S. showed a preference for a combination of benefits growth potential and benefits guarantees when they bought individual life insurance policies in the second quarter.
The number of indexed universal policies sold was 22% higher in the latest quarter, which ended June 30, than in the year-earlier quarter, according to new issuer survey data from LIMRA.
The Windsor, Connecticut-based research organization reported that the total number of individual policies sold increased by 4%.
The total amount of premiums paid for the new individual policies sold during the quarter increased 2%, to $4 billion.
What It Means
John Carroll, a senior vice president at LIMRA, said he thinks that economic conditions for middle-income families are improving and that consumers may have felt more confident about buying coverage.
